Your passion for music is worth turning into a potential million-dollar business venture, but getting to that point requires enough grit and influence. No music label is founded overnight, unless you’ve inherited a vast amount to start a recording company. That’s not to say starting depends entirely on the amount of resources you have. You start building independently, even with the most basic tools and equipment. It’s only a question of how.
Passion can only get you so far, but without a concrete plan, you could end up wasting a great deal of time and money on a business that’s guaranteed to fail. While anyone can start an independent label in their bedroom or basement, it’s building the systems that keep it afloat that determines its long-term survival and growth. When you’re looking to build your own music label, consider these essential tips:
1. Define Your Niche
Start with the kinds of genres you’re interested in. This is where you tap into your musical passion. You may gravitate towards alternative rock, hip-hop, or even more obscure genres like noise music. Whichever the case, align your vision with your interests. You can’t start a label that doesn’t reflect your artistic style.
From there, you can then explore more about the genre and find out what most fans want. You will notice stylistic trends that often result in massive plays on Spotify and views on YouTube. Moreover, try to list down the top independent artists of your genre or niche and determine the record labels they work under. You may want to listen to other artists under their wing.
2. Get the Tools and the Space
Doing market research is one thing, but acquiring the tools and the location for your independent label presents a more complicated challenge. Unless you have a cozy basement or space at home to accommodate a basic digital audio workstation and an isolation booth, you might as well rent a larger space. You just have to make sure it’s located in a building that’s far away from noise sources and doesn’t pose a health risk.
Older buildings offer cheaper rent, but they may conceal issues like structural damage and asbestos, which may cause epithelioid mesothelioma. Meanwhile, if you’re on a tight budget for equipment and materials, consider renting or buying secondhand. Just be sure to test these out for quality and longevity before setting them up at your studio.
3. Start Building Connections
Attracting up-and-coming artists to your independent label demands a great deal of time spent in bars and cafes. You need talents to develop, so you must reach out to musicians active in your community. Aside from buskers and bands gigging in different establishments, you should also pay attention to artists who are putting out their work online through DIY means.
Be ready with a pitch and offer them fair terms in the distribution of royalties. Your networking should also include event managers, business owners, and concert promoters who can provide spaces to develop your artists and expose them to a wider audience.
4. Never Leave Out the Details
Even if your label is working in the periphery of the music industry, you still need to deal with the background work that’s needed to secure your finances and legal status.
Your label is still a business operation, so you must keep good records of your expenses and earnings as well as secure the necessary permits. This will not only spare you hefty penalties but also unlock opportunities for your label to grow.
Endnote
A great deal of work is needed to build a stable music label. As much as you want to focus on giving local talents a platform for success, you need to make sure your outfit stands on solid ground.
